ANZ prices A$1 billion of non-guaranteed notes
ANZ has today priced A$1 billion of three-year fixed and floating rate notes in its first nonguaranteed benchmark debt issue since the introduction of the Australian government guarantee in October 2008.
The notes were priced at a spread of 128 basis points over swap/BBSW.
Strong investor demand saw orders reach A$1.4 billion from 57 investors. The transaction size was capped at A$1 billion, with 12 percent sold to Asian investors.
“The re-emergence of the non-guaranteed term funding market is an encouraging development,” said ANZ Group Treasurer Rick Moscati. “We have now completed more than 90 percent of our full-year term funding requirement and continue to benefit from strong growth in customer deposits.”
ANZ acted as lead manager on the deal. The maturity date is 8 May 2012 with settlement on 8 May 2009.
Details of the transaction are as follows:
- A$600 million of fixed rate notes priced at 128 basis points over swap
- A$400 million of floating rate notes priced at 128 basis points over 3-month BBSW
ANZ is rated AA by Standard & Poor’s and Aa1 by Moody’s Investor Services.